Utah's Residential Mortgage Regulatory Commission consists of:

• A. Seven members that serve two-year terms
• B. Five members that serve four-year terms
• C. Three members that serve six-year terms
• D. Nine members that serve four-year terms

Answer: (B)

The idea being tested is how Utah structures its regulatory panel for residential mortgages. The commission is designed as a small, stable group that can provide both expertise and accountability. It consists of five members who serve four-year terms. This size allows varied perspectives without becoming unwieldy, and the four-year terms offer continuity and experience on the board while still permitting periodic renewal. If the panel were larger or smaller, or if terms were much shorter or longer, you’d risk either decision-making gridlock or stale policy. Five members with four-year terms provides a practical balance for steady regulation and oversight.